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Registered Number: 10944410
England and Wales

 

 

 

SSG CAPITAL LTD.


Unaudited Financial Statements and pages for filing with registrar
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
Directors Mr Tangedipalli Narimetla Giridhar
Mrs Sridevi Narimetla
Registered Number 10944410
Registered Office 2nd Floor, Tower 42
25 Old Broad Street
London
EC2N 1HN
Accountants Avys Kapital Limited
No 1, The Retreat
Harrow
HA2 7JH
1
 
 
Notes
 
2023
£
  2022
£
Current assets      
Debtors 3 3,209    500 
Cash at bank and in hand 16,064    45,715 
19,273    46,215 
Creditors: amount falling due within one year 4 (27,493)   (36,887)
Net current liabilities (8,220)   9,328 
 
Total assets less current liabilities (8,220)   9,328 
Net liabilities (8,220)   9,328 
 

Capital and reserves
     
Called up share capital 5 125    125 
Profit and loss account (8,345)   9,203 
Shareholder's funds (8,220)   9,328 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 March 2024 and were signed on its behalf by:


-------------------------------
Mr Tangedipalli Narimetla Giridhar
Director
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General Information
SSG Capital Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10944410, registration address 2nd Floor, Tower 42, 25 Old Broad Street, London, EC2N 1HN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Basis of accounting
These financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Financial Instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 2).
3.

Debtors: amounts falling due within one year

2023
£
  2022
£
Corporation Tax 2,840   
PAYE & Social Security 369    500 
3,209    500 

4.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax   2,840 
Accrued Expenses 630    3,280 
Other Creditors (1)  
Directors' Current Accounts 26,864    30,767 
27,493    36,887 

5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
25 Class A shares of £1.00 each 25    25 
125    125 
The ordinary shares and 'A' shares rank pari passu in all repects, save that each class of  shares may be entitled to differential dividends. 

3